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Say Goodbye to 100 Percent Bonus Depreciation

Say Goodbye to 100 Percent Bonus Depreciation

All good things must come to an end. On December 31, 2022, one of the best tax deductions ever for businesses will end: 100 percent bonus depreciation. Since late 2017, businesses have used bonus depreciation to deduct 100 percent of the cost...

New Business Tax Credits for Your Electric Vehicle Purchases

New Business Tax Credits for Your Electric Vehicle Purchases

You may have heard that the newly enacted Inflation Reduction Act includes an expanded tax credit for electric vehicles. Although this personal credit has gotten most of the publicity, the new law launched a new commercial clean vehicle credit—specifically for...

Claiming the ERC When You Own Multiple Entities

Claiming the ERC When You Own Multiple Entities

Do you qualify for the Employee Retention Credit (ERC)? Did you claim it? It’s not too late. You can still amend your 2020 and 2021 payroll tax returns. Remember, this can be worth up to $5,000 per employee in 2020 and up to $7,000 per employee per quarter for the...

How Much Do Payroll Services Cost?

How Much Do Payroll Services Cost?

Is dealing with payroll week after week taking up too much of your time? As your business grows, so do your payroll needs. You may have considered hiring a payroll service to simplify the process but wondered how much do payroll services cost.  Hiring an...

New and Improved Energy Tax Credits for Homeowners

New and Improved Energy Tax Credits for Homeowners

The President signed the Inflation Reduction Act into law on August 16, 2022. It contains some valuable energy tax credits for homeowners. When it comes to taxes, nothing is better than a tax credit since it is a dollar-for-dollar reduction in the taxes you must pay...

Payroll Liabilities vs Payroll Expenses: What Are the Differences?

Payroll Liabilities vs Payroll Expenses: What Are the Differences?

Did you know that almost 40% of small businesses don't have an in-house accountant? Simply put, it's not always necessary to have an in-house accountant. However, professional tax and accounting solutions are still essential. By using them, you can work...

Earn 9.62 Percent Tax-Deferred Interest with Series I Bonds

Earn 9.62 Percent Tax-Deferred Interest with Series I Bonds

Inflation is seldom a good thing. But when it comes to investing, the U.S. Treasury Department has an inflation opportunity that’s downright amazing. You can buy bonds that pay 9.62 percent interest—tax-deferred—with no downside risk, and with...

Tax Planning Near Me: 4 Tax Planning Myths That You Should Know

Tax Planning Near Me: 4 Tax Planning Myths That You Should Know

If you're like most small business owners, paying taxes is probably not your favorite topic. Unfortunately, tax season comes around whether you're prepared for it or not. That's why tax planning is so important. The tax code is always changing, and it can...

6 Signs Your Business Needs a New Bookkeeping Service

6 Signs Your Business Needs a New Bookkeeping Service

Did you know that the average business spends 20 hours on taxes? That includes ten hours of record keeping! You've hired a bookkeeper or accountant to save you time, not a headache. If you're scratching your head and the numbers don't add up, it might be...

Investing in Treasury Inflation-Protected Securities (TIPS)

Investing in Treasury Inflation-Protected Securities (TIPS)

The Fed is finally taking aggressive action to fight inflation, but will it work? Where’s the stock market headed? Who knows? Real estate might be a good inflation hedge, but it’s a non-liquid asset and no sure thing. Clearly, this is not a...

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